USD/CAD hovering near daily low at 1.3140

USD/CAD managed to stabilise above the 1.3140 neighborhood ahead NY session’s close, after posting a fresh daily low at 1.3130.

The pair extended its decline following the disappointing US economic releases early today, that reduced Fed rate hike’s expectations. Retail sales for August contracted more than expected, while industrial production declined 0.4%.

Also, the greenback is trading lower against most of the currencies across the board, with the US Dollar index trading near daily lows at 95.20, after losing momentum during the American session.

USD/CAD technical levels

At the time of writing, the pair is losing -0.32% at 1.3152. Immediate supports can be found at 1.3130 (daily's low), 1.3069 (200-hour SMA) and 1.3022 (500-hour SMA). In terms of resistances, the levels can be seen around 1.3235 (daily's high), 1.3252 (July 17th high) and 1.3295 (March 24th high).